Chase's new instant transfer feature

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investing engineer
Posts: 123
Joined: Thu Aug 27, 2015 5:14 pm

Chase's new instant transfer feature

Post by investing engineer »

I saw Chase now offers instant transfer to the owner's account at other banks. Chase's FAQ says:
What is a real-time transfer?

Real-time transfers are a new way to send and receive money within moments, using the U.S. real-time payments network.
What is this "real-time payments network"? This option isn't available for all external banks (e.g., cannot use this option for Fidelity). I looked up "ACH instant" and it doesn't seem to exist.
Retired2013
Posts: 263
Joined: Sat Dec 12, 2015 2:53 pm

Re: Chase's new instant transfer feature

Post by Retired2013 »

xuphys wrote: Wed Apr 22, 2020 3:13 am I saw Chase now offers instant transfer to the owner's account at other banks. Chase's FAQ says:
What is a real-time transfer?

Real-time transfers are a new way to send and receive money within moments, using the U.S. real-time payments network.
What is this "real-time payments network"? This option isn't available for all external banks (e.g., cannot use this option for Fidelity). I looked up "ACH instant" and it doesn't seem to exist.
https://www.jpmorgan.com/global/cib/tre ... e-payments

Looks like a B2B product.
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Cubicle
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Re: Chase's new instant transfer feature

Post by Cubicle »

"Oh look another bajillion point declin-Ooooh!!! A coupon for pizza!!!!" <--- This is what everyone's IPS should be. ✓✓✓
worthit
Posts: 376
Joined: Tue Jun 19, 2018 2:10 pm

Re: Chase's new instant transfer feature

Post by worthit »

AFAIK, it works between banks and yes it is real-time. Been using it for 2 months now. Not sure about merchant/bill payments though.
student
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Joined: Fri Apr 03, 2015 6:58 am

Re: Chase's new instant transfer feature

Post by student »

I just found out about this today and it worked.
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